Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Montana
MTARTETRTACCFDQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
130.34
Year-over-Year Change
46.59%
Date Range
1/1/1997 - 1/1/2024
Summary
The Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Montana tracks the volume of economic activity in these key service sectors for the state.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This index provides a comprehensive measure of real output changes in the arts, entertainment, recreation, accommodation, and food services industries in Montana. It is a valuable indicator for assessing the health and growth of these critical service sectors in the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Historical Context
Policymakers and analysts use this trend to monitor economic conditions and consumer demand in Montana's leisure and hospitality industries.
Key Facts
- The base year for this index is 2012.
- Montana's arts, entertainment, and recreation sectors account for over 4% of the state's GDP.
- This index has shown steady growth in recent years, reflecting the importance of these service industries to the state's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real output, or volume of economic activity, in Montana's arts, entertainment, recreation, accommodation, and food services industries.
Q: Why is this trend relevant for users or analysts?
A: This index provides valuable insights into the performance and health of key service sectors that are critical to Montana's economy, informing policymakers and businesses.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a chain-type quantity index methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to monitor economic conditions and consumer demand in Montana's leisure and hospitality industries, which inform policy decisions.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Bureau of Economic Analysis, with a typical lag of 2-3 months.
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Citation
U.S. Federal Reserve, Chain-Type Quantity Index for Real GDP: Arts, Entertainment, Recreation, Accommodation, and Food Services (71, 72) in Montana (MTARTETRTACCFDQGSP), retrieved from FRED.